South Africa. Allowing withdrawals from pension funds to increase retirement savings
To allow limited withdrawals from pension funds will actually help people to save more for their retirement, according to a study by National Treasury. The research found that people sometimes resign from their jobs for the sole reason of accessing their pension fund in emergencies, and end up spending everything. The proposal to split retirement funds into two ‘pots’ and give people access to withdraw from one is expected to solve the problem. Treasury recently published more information on this and...
